Treasury systems will be a fundamental building block of third generation cryptocurrencies. Through this mechanism, communities will be able to have their say in how the protocols that they use are developed and maintained.
Treasury systems are an important development that allow a blockchain community to govern and make decisions in a collaborative way, and something that will ensure the sustainability of decentralised networks.
In the research paper, Bingsheng Zhang, an expert in voting systems, and others provide a rigorous security analysis of a treasury system, the first time this has been done. Bingsheng and his colleagues have modelled and implemented a provably secure treasury system that is suitable for most existing blockchains, such as Bitcoin, Ethereum and others. The treasury proposed also supports liquid democracy and delegative voting.
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Abstract. A Treasury System for Cryptocurrencies: Enabling Better Collaborative Intelligence? Bingsheng Zhang, Roman Oliynykov , Hamed Balogun, and Tamara Finogina, Lancaster University, UK.